The total supply of CRO is around 30 Billion. The top 10 crypto with the closest supply would be ADA, with 45 Billion coins. Since BNB has already achieved the #3 slot, we can sort of get an idea of the price potential for an exchange token like CRO before it truly "takes off." At the moment, it seems to be beginning to take off. Structurally, it's breaking out of a long term uptrend channel/wedge (light blue). As long as it doesn't get back inside the structure, it can continue to shoot up. A bearish sign would be a rejection to close back below the long term uptrend. if the crypto market continues to correct, support exists at the broken wedge structure resistance, currently near $0.34.
With Matt Damon as a mascot, and with and the sports stadium news....this can be enough for it to really gain some traction. I considered purchasing some yesterday around $0.44 after the stadium news dropped, but I'm really not one to chase gains in the middle of a cycle. Sticking to my plan. As soon as I open that door, I'm right back to where I was at the end of 2017 - chasing pumps and losing sleep.
Instead, I'm just laying out some potential targets for this coin, based on tokens with similar supply but higher market cap. Pretty simple! Of course, it would probably be necessary for the bull market to continue a little while longer for those upper targets to be reached.
$3 puts it near ADA's current market cap.
$5+ puts it closer to BNB's current market cap.
Value is somewhat arbitrary in this space. It doesn't take too long to realize this.
This is meant for speculation and entertainment only.
-Victor Cobra
With Matt Damon as a mascot, and with and the sports stadium news....this can be enough for it to really gain some traction. I considered purchasing some yesterday around $0.44 after the stadium news dropped, but I'm really not one to chase gains in the middle of a cycle. Sticking to my plan. As soon as I open that door, I'm right back to where I was at the end of 2017 - chasing pumps and losing sleep.
Instead, I'm just laying out some potential targets for this coin, based on tokens with similar supply but higher market cap. Pretty simple! Of course, it would probably be necessary for the bull market to continue a little while longer for those upper targets to be reached.
$3 puts it near ADA's current market cap.
$5+ puts it closer to BNB's current market cap.
Value is somewhat arbitrary in this space. It doesn't take too long to realize this.
This is meant for speculation and entertainment only.
-Victor Cobra
Comment:
Yeesh, already up almost 50% since I posted this, and certainly more than 50% since I considered buying. I should listen to my Cobra instinct more often ;)
Comment:
Just a quick update on this chart, since it was one of my last bullish posts. Since CRO has completed a full retrace and is back into the channel, I think it's possible it drops to the bottom of the channel, another 50% drop from here. I can't access the original Bittrex chart for some reason, but here's one from Huobi.
Crypto.com is slashing its card rewards, which is a symptom of drying up demand in the crypto space. Not a good sign. I think that superbowl ad will be seen as an obvious top signal in the years to come.
Crypto.com is slashing its card rewards, which is a symptom of drying up demand in the crypto space. Not a good sign. I think that superbowl ad will be seen as an obvious top signal in the years to come.
Comment:
Since many other coins are breaking their long term uptrends (including Chainlink!) it could be only a matter of time before CRO breaks down as well.
